Equities research analysts forecast that CubeSmart (NYSE:CUBE) will announce earnings per share of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CubeSmart’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.43. CubeSmart also posted earnings of $0.43 per share during the same quarter last year. The business is scheduled to announce its next earnings report on Thursday, October 24th.
On average, analysts expect that CubeSmart will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.68. For the next year, analysts expect that the business will post earnings of $1.73 per share, with EPS estimates ranging from $1.71 to $1.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow CubeSmart.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.15). CubeSmart had a net margin of 29.33% and a return on equity of 10.19%. The company had revenue of $159.00 million for the quarter, compared to analyst estimates of $158.86 million. During the same period last year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina increased its stake in CubeSmart by 1.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 92,558 shares of the real estate investment trust’s stock worth $3,095,000 after acquiring an additional 1,080 shares during the period. Mackenzie Financial Corp increased its stake in CubeSmart by 15.2% during the 2nd quarter. Mackenzie Financial Corp now owns 24,252 shares of the real estate investment trust’s stock worth $811,000 after acquiring an additional 3,206 shares during the period. Uniplan Investment Counsel Inc. increased its stake in CubeSmart by 0.8% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 782,416 shares of the real estate investment trust’s stock worth $26,164,000 after acquiring an additional 6,181 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in CubeSmart by 12.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,203 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 691 shares during the period. Finally, Eaton Vance Management increased its stake in CubeSmart by 376.4% during the 2nd quarter. Eaton Vance Management now owns 2,176,615 shares of the real estate investment trust’s stock worth $72,786,000 after acquiring an additional 1,719,753 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.
NYSE CUBE traded down $0.24 during trading hours on Friday, hitting $35.17. 1,078,162 shares of the company traded hands, compared to its average volume of 1,277,808. The business’s 50-day moving average is $34.55 and its 200-day moving average is $32.81. CubeSmart has a twelve month low of $27.19 and a twelve month high of $35.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 6.47 and a beta of 0.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 3.64%. CubeSmart’s dividend payout ratio is 78.05%.
CubeSmart Company Profile
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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